But if you fancied yourself as someone who could be turned into a
billionaire, you were arguably cheating — these were things everyone has
already figured out.

The real challenge, and the greater value and more lucrative pursuit,
would be to come up with the solutions to problems that have befuddled
engineers for decades or more.
We thought of 10 of them:

1. Wireless Power

Digital devices have become so small that it can be cumbersome to
plug them into a power source. Longer-lasting batteries? Nope — Apple
iPod God Tony Fadell says pursuing greater efficiency in batteries is a trap.
The key is to find ways of squeezing more efficiency out of the
devices' other parts — and stealing power from what's around
you. University of Washington engineers, among others, are at work on
harvesting existing TV and cellular transmissions and turning them into a
power source. "This novel technique enables ubiquitous communication
where devices can communicate among themselves at unprecedented scales
and in locations that were previously inaccessible," they say.

2. Rural, Remote Internet

Everyone agrees this is a priority. But there appear to be a hard way
and an easier way to achieve it. The former involves lots of expensive
regulatory clearance and installations. The latter, currently
spearheaded by Google, is called Project Loon.
The company plans to send renewables-powered balloons to the edge of
space to create an Internet network in remote parts of the world. "We
believe it's possible to create a ring of balloons that fly around the
globe on the stratospheric winds and provide Internet access to the
earth below," they say. Whoa.

3. Cheap, Scalable Solar

There are two ways to reduce the cost of raw solar power. One is to
have a super-cheap photovoltaic cell, with the tradeoff off that it's
inefficient. Of course, more efficient cells cost more to make. So
everyone is racing to find a material or process that eliminates the
tradeoffs. We may be close: Australian researchers say they've achieved
commercial-scale efficiency with a set of dirt-cheap materials first
experimented with a century ago but never considered for this use:
perovskites. The scientists say they could help cut solar costs by 75%
to as low as 10 cents a watt.

4. Clean Coal

The technology was recently the subject of a cover story in Wired, which
said carbon capture and storage "may be more important — though much
less publicized — than any renewable-energy technology for decades to
come," since it would allow the world to keep burning its most abundant
fuel source. But it goes on to note that "developing reliable,
large-scale CCS facilities will be time-consuming, unglamorous, and
breathtakingly costly."

5. Super-Low-Cost International Payments

While this isn't a problem that touches the average consumer
directly, the fees paid by financial institutions to wire funds overseas
can eventually filter down. Remittances, too, while not over
burdensome, would be much cheaper if they were sent over a decentralized
or distributed network free from network, acquiring or interchange fees
(see the chart below). This, of course, is the problem Bitcoin and
Bitcoin-like technologies, like Ripple, are looking to address.

Goldman Sachs

6. A Pill That Really Makes You Lose Weight

The holy grail of modern society, and another that may prove
impossible. But there may yet be a way: In 2012, scientists at UCLA say
they'd genetically engineered mice brains to a key compound that craves
fats. The results, according to The Week, "These mice lived in a 'hypermetabolic state,' burning fat calories far more efficiently than normal mice, study researcher Daniele Piomelli said in a statement.
They were 'resistant to obesity,' staying thin despite a high-fat diet
without exercise. They even had normal blood pressure, and showed no
increased risk of heart disease or diabetes."

7. Cheap Desalination

Water shortages continue to make the list of the world's most
pressing issues. This year's crippling drought in California further
drove the point home. But desalination plants have proved way too expensive and inefficient to build. But earlier this year, Business Insider's Dina Spector profiled the company behind a kind of solar-powered desalination process that uses uses
half the total energy — most of it coming from solar — of the best
competing thermal (fossil) methods, and one-fifth the electricity of
reverse osmosis technology. If
something like this doesn't pan out, we'll have to keep relying on
massive conservation efforts — which basically means we've already lost.

WaterFX

A
parabolic trough collects energy from the sun. The heat is used to
evaporate clean water from the salty agricultural drainage water of
irrigated crops.

8. Detecting Or Predicting Major Weather Or Natural Events

A new book
about the San Andreas Fault frames the issue like this: "the world
community of seismologists remains divided — at times, vehemently — over
the issue of whether it will ever be possible to predict earthquakes.
It’s a question that’s been raised again as the network of faults in
Southern California has awakened with seismic activity in
recent months. It is a complex problem. And, to date, no one has yet
predicted an earthquake." Meanwhile the number of billion-dollar
meteorological events climbs inexorably higher.

9. Unhackable Passwords

Wired has said
2012 was the year passwords broke. Hackers have, through brute force,
so far been able to break through practically every firewall ever
invented. There must be a better way. And engineers are working on them.
Google, for instance, continues to search for ways to turn your
smartphone or some other device into a computer "car key," Another involves what was once thought the holy grail of cryptography, called obfuscation, which masks the inner workings of a computer program.

10. Death

It's happening. Google — yes, it has appeared several times on this list, but that's because it's interested, and it can — just hired biophysicist Cynthia Kenyon from UCSF to join its Project Calico
antiaging team. Her experiments have produced roundworm as old as the
equivalent of 80 human years but looks and acts the equivalent of 40.
Google admits it's a moonshot, but it's proved pretty decent at those.